October, 2021

Investors are buying more, but spending less

Housing Wire

Real estate investors are buying more properties, but paying less for them, according to a report from RealtyTrac released Thursday based on ATTOM Data Solutions home sales data. In the second quarter of 2021, investor purchases accounted for 15.4%

How Remaining Economic Life Works

Cleveland Appraisal Blog

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?

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Role Play: Appraisers and their Intended Uses

Appraisal Buzz

Tell someone that you’re a professional fee appraiser and most folks won’t have any idea what that really means. Some will picture the guys at Pawn Stars or the Antiques Roadshow trying to put a value on something they pulled out of their parent’s attic.

Does a Variable Vary? Part I

George Dell

A vary good question! As I have often contended: The problem with statistics is. words. Appraisal has been accused of being a “cottage industry.” Grrrr. How can this be? Here, too, part of the problem is words. We have continued to use, enforce, and teach outmoded ways and words.

Sometimes “No” Is Okay

The Appraiser Coach

Fear might be a good motivator, but it is a poor problem solver. Over the years, I’ve had to learn how to not be afraid of my clients. That is, Read More.

Tech companies & Wall Street targeting residential real estate

Sacramento Appraisal Blog

Tech companies and investment funds have their eye on residential housing. I wrote about this a few months ago and wanted to do a follow-up piece. Here are some things on my mind as well as fresh visuals. Any thoughts? TWO THINGS: 1) iBuyers are on a rampage: The iBuyer model has been on a […].

Existing home sales crush the housing bears — again

Housing Wire

The National Association of Realtors ‘ existing home sales report for September came in at an excellent beat of estimates at 6.29 million. Now that we are just 10 days away from Halloween in 2021, we can all chuckle a bit at how wrong the housing bears of 2020-2021 have been.

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Bracing for Impact: Navigating Accusations of Bias in Appraising

Appraisal Buzz

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. As a black appraiser responsible for collateral risk at a mortgage bank, racial bias in appraising claws at me from every direction.

What! No Report?

George Dell

No report. Can it be? Does modernized appraisal require a modernized report? And how about non-appraiser appraisals (valuations)? Here we use the word ‘appraisal’ in its generic public meaning.)

Tandem Garage Conundrum

The Appraiser Coach

A question that comes up quite often on the forums is what to do about garages that have tandem spaces, what to do about two car garages that can really. Read More.

Will appraisers use Zillow purchases as comps?

Sacramento Appraisal Blog

Let’s talk about Zillow. I’ve been getting a TON of questions every week about what Zillow is doing and whether appraisers can use their purchases as comps. Big news: First off, yesterday news broke that Zillow would be suspending buying anything else until 2022.

Housing affordability improves for second straight month

Housing Wire

For the second month in a row, national housing affordability improved in August, according to the latest National Association of Realtors housing affordability index report. This improvement came as monthly mortgage payments fell by 1.1% while median family income fell by 0.7%.

3 Tips for Downsizing Your Home While Keeping Your Pet Safe and Happy

Cleveland Appraisal Blog

I hope you are all doing great! This week, I am happy to welcome a guest blogger, Penny Martin. I think you’re going to enjoy her article. Especially if you have pets and are thinking of downsizing. I have more articles I am working on for future posts.

Appraisers – Don’t Fall for the Scam!

Appraisal Buzz

In today’s Buzzcast, we dive into the recent phone scam that has been targeting appraisers. Today we have Joan Trice, Founder of Alterra Group, and Alan Pair, Chief Appraiser of SVP Valuations. We’ll be getting the inside scoop while they discuss what to do if you receive a call.

How Does Data Become Information?

George Dell

We talk a lot about data. The Good. The Bad. The Biased. And how wonderfully important information is. But what really matters? It can be easy to get lost in the mish-mash of talk about data. Let’s step back. Why do we care about this? We care because it is useful as an input to […].

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Dressing as a Professional

The Appraiser Coach

I’ve heard the complaints from other appraisers that there are AMC’s out there that request that appraisers that work with them dress professionally. I’m not really sure why this bothers. Read More.

Is the housing market going to crash?

Sacramento Appraisal Blog

What’s going to happen to the housing market? Is it going to crash? That’s a huge question as so many people are wondering how long price growth can continue. Let’s talk about this today by focusing on some of the bigger topics in this conversation. Spoiler alert.

Inside Zillow’s misadventures in iBuying

Housing Wire

Zillow CEO Rich Barton. Antonio Pellegrini was stunned. In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000.

High-Impact Home Upgrades for Any Budget

Cleveland Appraisal Blog

When you looked at your email today, you no doubt received a post indicating a new article was out entitled “How Remaining Economic Life Works” So, funny story… I just started working on that article.

Modernizing Appraisals: Collaborative Valuation

Appraisal Buzz

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Many stakeholders in the profession have given their opinions on what that means.

Fannie and Freddie WHAT NOW?!

George Dell

Fannie Mae’s Director of Collateral Policy, Lyle Radke, spoke at the Housing Wire conference this week. The audience was mostly non-appraisers. They laughed when he said: “Appraisers see their job as an art form. It’s hard for them to rigorously explain exactly what they’re doing.”

Knowing Your Why is the Key to Success

The Appraiser Coach

I mentor a lot of appraisers from all across the nation. Most of the time, appraisers ask me how to do something such as, how to get their business to. Read More.

How close is the housing market to normal?

Sacramento Appraisal Blog

The housing market is trying to get back to normal, but how close are we? On one hand we’re feeling some seasonal slowing, but it also still feels really competitive. Today let’s talk about what normal looks like.

Homebuilders growing very concerned about affordability

Housing Wire

Homebuilder confidence continued to rise in October despite increasing affordability issues due to rising material prices and ongoing shortages, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report released on Monday.

Strong Demand Boosts Builder Confidence Despite Supply Chain Disruptions

Eyes on Housing

Strong consumer demand helped push builder confidence higher in October despite growing affordability challenges stemming from rising material prices and shortages.

A New Appraiser Discusses his Journey into the Industry

Appraisal Buzz

“A New Appraiser Discusses his Journey into the Industry” was originally published in May 2021.

2021 Mokena, South Tinley Park & New Lenox Halloween Tour!

Advanced Appraisal

We have not been active in sharing contact as we wish we were, as we have been slammed training appraisers and involved with an overwhelming amount of Estate and Divorce appraisals. But every year the family and I drive

Updated for 2021: How to Get Things Done When Everything Feels Important

DataMaster

It is not enough to be busy, so are the ants. The question is: What are we busy about? Henry David Thoreau. We’re busier than we’ve ever been. How often have you talked to a friend about how busy you’ve been? How many important items do you have to get done?

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October Newsletter- Happy Halloween!

DW Slater Company

Fall Pumpkins on Display – Photo by Monstera from Pexels. I would rather sit on a pumpkin and have it all to myself, than be crowded on a velvet cushion. Henry David Thoreau. Fall is absolutely my most favorite season!

Study: 24% of sellers received four or more offers in 2021

Housing Wire

Nearly one quarter of U.S. home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. The rise in the number of homes that received multiple offers is reflected in the increased frequency of bidding wars in 2021.

Housing Share of GDP Steady During Third Quarter

Eyes on Housing

Thanks to a surge in residential investment during 2020, housing’s share of GDP remains elevated compared to recent years. Last year’s market conditions involved a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale inventory.

Freddie Mac Research Explores Causes for the Appraisal Valuation Gap for Homeowners in Minority Neighborhoods

Appraisal Buzz

MCLEAN, Va. Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap.

10 Real Estate Tips BEFORE You Sell Your Home

Raleigh Realty

Selling Your Home: 10 Real Estate Tips and Tricks When you bought your home, you likely felt a great deal of excitement, as well as some apprehension. That feeling probably faded once you settled in and started to make it your own.

More fintech M&A: SimpleNexus acquires LBA Ware

Housing Wire

Homeownership platform provider SimpleNexus acquired LBA Ware , a software firm that offers incentive compensation management and business intelligence software for the mortgage industry, the companies announced Friday.

ASC Wants to Make USPAP Free!

Appraiserblogs

The ASC Wants And Has The Funds To Make USPAP Free! And More!

Top markets for affordable renovated housing inventory

Housing Wire

Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9%

Lots Harder to Obtain than Ever

Eyes on Housing

Home building, like other U.S. industries, has been dealing with the supply side challenges of labor and material shortages. Unlike other industries, however, home builders confront an additional challenge in obtaining lots on which to build.